It’s the run of the bulls: Market Pulse
S&P Futures are not giving up here, price posted a new all-time high in overnight trading and looks solid for a continued go at this point. In the event that price ever decides to pull back a few points, I am continuing to eye 2550 as current support.
Gold Futures have continued to decline in overnight trading, dropping back down to the 100 day moving average for a retest of the level. I see slight bullish defense here but will have to re-assess sentiment after the open to confirm where the conviction is. There is initial intra-day resistance between 1284 and 1286 that day traders will be eyeing as short interest.
NEOT got a heavy push in yesterday’s trading session and bulls are back for round-two today. Price is up about 11.6% in pre-market trading as bulls gun for that 2.00 mark, yesterday’s failure point. I think that if bulls are able to gain traction over 2.00 then we will likely see a push for a gap fill there on the daily.